Seven banks in Hong Kong are working together to promote the development and launch of a Hong Kong trade finance blockchain platform: ANZ, Bank of China (Hong Kong), Bank of East Asia, DBS Bank, Hang Seng Bank, Hongkong and Shanghai Banking Corporation and Standard Chartered Bank (Hong Kong). The platform is led by the Hong Kong Monetary Authority (“HKMA”) and has found a company called Hong Kong Trade Finance Platform to undertake tendering and operation of the platform. Seven banks are responsible for making money.